Retail Opportunity Investments Corp (NASDAQ:ROIC) declared a quarterly dividend on Wednesday, October 24th, Wall Street Journal reports. Stockholders of record on Friday, December 14th will be given a dividend of 0.195 per share by the real estate investment trust on Friday, December 28th. This represents a $0.78 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Thursday, December 13th.
Retail Opportunity Investments has raised its dividend by an average of 5.4% annually over the last three years and has raised its dividend every year for the last 8 years. Retail Opportunity Investments has a dividend payout ratio of 67.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Retail Opportunity Investments to earn $1.18 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 66.1%.
ROIC stock opened at $17.94 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.10. The stock has a market cap of $2.06 billion, a PE ratio of 15.75, a PEG ratio of 2.81 and a beta of 0.57. Retail Opportunity Investments has a fifty-two week low of $16.17 and a fifty-two week high of $20.14.
Retail Opportunity Investments (NASDAQ:ROIC) last posted its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.22). The firm had revenue of $73.90 million for the quarter, compared to analyst estimates of $73.15 million. Retail Opportunity Investments had a return on equity of 3.26% and a net margin of 14.69%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 earnings per share. As a group, equities research analysts anticipate that Retail Opportunity Investments will post 1.14 EPS for the current fiscal year.
Several research analysts have recently weighed in on ROIC shares. BMO Capital Markets started coverage on Retail Opportunity Investments in a research report on Tuesday, September 18th. They set a “hold” rating and a $20.00 price objective for the company. ValuEngine raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Zacks Investment Research raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Thursday, August 16th. Finally, BidaskClub raised Retail Opportunity Investments from a “sell” rating to a “hold” rating in a research report on Thursday, November 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.75.
Retail Opportunity Investments Company Profile
Retail Opportunity Investments Corp. (NASDAQ:ROIC), is a fully-integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely-populated, metropolitan markets across the West Coast. As of June 30, 2018, ROIC owned 92 shopping centers encompassing approximately 10.6 million square feet.
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